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Exercise 8-7

Setterstrom Company established a petty cash fund on May 1, cashing a check for $100.00. The company reimbursed the fund on June 1 and July 1 with the following results.

June 1: Cash in fund $1.75. Receipts: delivery expense $31.25; postage expense $39.00; and miscellaneous expense $25.00.
July 1: Cash in fund $3.25. Receipts: delivery expense $21.00; entertainment expense $51.00; and miscellaneous expense $24.75.

On July 10, Setterstrom increased the fund from $100.00 to $130.00.

Prepare journal entries for Setterstrom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date
Account Titles and Explanation
Debit
Credit
May 1
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
June 1
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
July 1
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
July 10
[removed]
[removed]
[removed]
 
[removed]
[removed]
[removed]
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